By: Bit get

Cango Inc., a publicly listed Bitcoin mining and digital infrastructure company, has secured a $10.5 million equity investment from Enduring Wealth Capital Limited (EWCL). Under the agreement, Cango will issue 7 million Class B ordinary shares to EWCL at $1.50 per share, providing the investor with significantly enhanced voting rights.

The transaction is expected to increase EWCL’s equity ownership from 2.81% to approximately 4.69% of Cango’s outstanding shares. More importantly, EWCL’s voting power will rise from 36.68% to about 49.61%, positioning it just below majority control and strengthening its influence over corporate strategy.

Cango plans to use the capital to scale its global Bitcoin mining operations and expand into integrated energy solutions and distributed AI computing infrastructure. The company operates mining facilities across North America, the Middle East, South America, and East Africa, and has been pivoting toward an asset-light model that bridges cryptocurrency mining with AI workloads.

This investment follows Cango’s recent transformation into a pure-play digital asset firm after completing the $351.94 million sale of its legacy China-based business in May 2025. The deal remains subject to customary closing conditions, including approval from the New York Stock Exchange, with completion anticipated in January 2026.